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Rosslyn Data wins €1mln three-year contract

The RAPid platform, and its integrated data technologies, empowers business teams to now analyse procurement data on an almost real-time basis

Big data
Rosslyn's revenues in the last financial year were £7mln

It’s time for Rosslyn Data Technologies PLC (LON:RDT) to get the beers in after the big data technology company bagged a contract with a brewer.

The company has secured a three-year spend analytics contract worth more than €1mln with the unnamed global brewer, with €500,000 to be paid in the first year and then €250,000 a year in the following two years.

READ: Rosslyn Data Technologies revenue jumps by nearly 100% in 2018 financial year

The contract includes options to extend beyond the term as well as the capability of providing additional technical and professional services during the contract life to help the client generate maximum business value.

The brewer will use Rosslyn’s RAPid platform to extract and integrate millions of rows of data, clean up the data and then classify and enrich it, on a daily basis.

"I am thrilled that Rosslyn has won this high profile client in a highly competitive and demanding process,” said Roger Bullen, the chief executive officer.

“Our focus on the spend data analytics market continues to deliver a number of opportunities and this extremely important win demonstrates the continued demand for our data services in this sector and our expertise in managing complex, vast data sizes, requiring rapid and efficient deployment,” he added.

“Being selected by this leading company shows that our RAPid platform is the technology of choice for companies serious about leveraging the value of their data in order to improve business performance. This win also underpins the progress we are making in increasing our average annual contract value," Bullen concluded.

Shares in Rosslyn were trading 6.8% higher at 4.7p following the contract win.

Quick facts: Rosslyn Data Technologies PLC

Price: 7.15 GBX

AIM:RDT
Market: AIM
Market Cap: £13.79 m
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